By Laura Lutz
Des Moines, April 3 - Moly Mines Ltd. negotiated a private placement of special warrants for C$22.5 million.
The company plans to sell 7.5 million special warrants at C$3.00 each.
A syndicate led by Paradigm Capital Inc. and including Haywood Securities Inc., GMP Securities LP and Wellington West Capital Markets Inc. will act as agents.
Each special warrant will be exchangeable for one share upon completion of a prospectus.
Proceeds will be used to finance contracts for long-lead time items for the company's Spinifex Ridge processing plant and for project implementation.
Moly is a mining exploration company based in Toronto.
| Issuer: | Moly Mines Ltd.
|
| Issue: | Special warrants
|
| Amount: | C$22.5 million
|
| Special warrants: | 7.5 million
|
| Price: | C$3.00
|
| Warrants: | No
|
| Agents: | Paradigm Capital Inc. (lead), Haywood Securities Inc., GMP Securities LP, Wellington Capital Markets Inc.
|
| Pricing date: | April 3
|
| Stock symbol: | Toronto: MOL
|
| Stock price: | C$3.73 at close April 3
|
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